New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-08-15
navy by spurious information about foreign
ships and misleading comparisons.
MONEY AND BUSINESS

1t is not surprising that the formal an
nosncement of the failure of Ives a. Go. had
little effect upon the market last week, since
it is hard to say when tho collapse actually
took place. Strictly speaking, PERHAPS the
failure had so good an influence that IL nearly
balanced an unfavorable crop report. AT all
events, stocks slightly advanced, closing at an
average Of $64 SO, against $64 81 the previous
week and $63 10 year ago for the same
stocks, though the Bureau report indicates
somewhat smaller yield of wheat corn, hay.
potatoes, fruits and propectively OF animal
and dairy products than the yield OF last
year, with improvement only in oats and
cotton. 1t was quite consistent with It's usual
deceptiveness that tho stock market closed the
week with manufactured advance, In spite
| OF bank statement showing loss OF
| 81, 1SS, 900 in the surplus reserve, notwith-
! standing the arrival of some gold from Europe
! to meet the latest assessment on Reading held
abroad.
| Last weeks rains brought relief wherever
they did not come too late to save crops ana
cattle But it can hardly be doubted that
the loss sustained during ten burning days
of August was proportionately as great as In
July, when corn declined II points In con-
dtion. If so, the indicated yield would be
about 21.3 bushels per acre, or crop sngnty
less than that of last year. Wheat must also
have suffered some, but the yield indicated
was about 16O, 100000 bushels spring wheat
and 272 600, 900 bushels winter wheat, which.
with a surplus Of 5O,0OO,O 900 bushels carried
over from last year, would meet the increasing
requirements for food and seed and leave
alb out $50, 600, 900 bushels for export. Favor
able foreign adviccs forbid expectation OF
demand as large as that of last year, but the
exports of the last crop year from this country
included 100000 bushels in Liverpool and
on sea which were really owned by the Call
fornia ring, leaving only about 13o,ooo'ooo
bus hels American wheat actually sold abroad,
flour included.
Tins far railroad earnings continue well
maintained, thirV-two roads for the trst
week of August showing a gain OF 1884 per
cent. and the small gain for the last week
Of July Is attributed to the occurrence OF
fifth Sunday in that month, against only Tour
last wear But clearing house exchanges last
week began to show a decline in comparison
with last year, Notwithstanding somo rlse In
tho level of prices. 1t is worth noting, too'
that the Mercantile Agency reports Tor inc
last week 1873 failures, against l54 for the
corresponding week last year, and the aggfe-
gate Of liabilities must be relatively swclled
still moro by the Ives collapse. II is not
sign of promise that the consumption oil raw
materials in several important branches OF
manufacture falls behind that OF year ago.
The monthly statement OF iron lurhaccs III
blast shows that Notwithstanding the stop
paga for more than twv months OF COKE lur-
naccs yielding $4,000 tons weekly, inc re-
sumption Of furnaces yielding 2l.OOo tous Is
still DELAYED, and while thirteen coke furnaces
resumed. nine anthracite furnaces ceased pro-
duction, so that the aggregate Is OUT lll'o'f
tons. against 1877 800 May /. For the summer
months last year the average weekly pro-
duction was about $4,000 tons, ana ior INC
same months this year II has averaged "'y
about 10000 tons, and yet prices 90 NOV
advance as If the consumption had increased
rho wool consumed by manufacturers, THO
cotton taken by Northern splnncS anu INC
raw sill, rubber and hides imported do not
increase.
The returns of foreign commerce are mort
favorable for July than several previous
mnths. Exports OF DIcduSVui0 P-o'
ANNALS. cotton and oil were $164,2l6, or "a
rcr cont. larger than for the Same
month last year. The official return
o. imports at NcwYork shows but q
slight increase, but New-fork reports
have not of late been Trustworthy ihui-
cation OF the aggregate movement Imports
for two weeks Of August from New orH
show an increase of ii per cent, WINE inc
exports for the past two weeks show a uc-
crease OF 7 per cent. Imports OF gold wou'u
he iuexplcaLlc, were it not known thaV INC
no,ments of assessments on STOCKS helo
abroad Just now call for large sums.
Tho Treasury has taken out OF the markc'
So .o67 go gold during the past week. whiic
uniting into it only $232, 7ol silver and legal
tenders. Prepayment of interest Is accep'cu
nv holders Of only a twentieth OF the Il per
cents less than a twentieth OF the 4i2 Per
ccnts and less than fftleth OF the per
cents and the disbursement beginning to-day
"a only Sl.O31OOO. In case OF strhSehcy
tho Treasury NAV take bonds at higher rAUe'
or nav interest without rebate, but so lar It's
action is of no consequence. There "ouio
not no occasion for any action at present II
heavy pavments connected with speculation
and new undertakings ut the West ana South
did not threaten TO draw much money lioni
centres Of trade.